Business Acquisitions (Tables)

6 Months Ended

Dec. 31, 2020

Schedule of Estimated Total Consideration Transferred

The following table details the estimated fair value of total consideration transferred:


(in millions)	Estimated Fair Value
Current assets	$	42.5
Intangible assets	290.0
Equipment	18.2
Other assets	0.1
Goodwill	99.3
Current liabilities	(19.6)
Long term liabilities	(0.1)
Deferred tax liability	(9.2)
Total fair value purchase price	$	421.2
Less: Cash acquired	(15.3)
Total consideration transferred	$	405.9

Schedule of Changes in Goodwill

Changes in goodwill since the initial purchase are shown below:


(in millions)	Carrying amount
Balance September 30, 2018	$	94.9
Fair value adjustment to equipment	0.7
Intangible adjustment	2.9
Working capital adjustment	(1.1)
Change in deferred tax liability	1.9
Ending balance December 31, 2020	$	99.3

Schedule of Pro Forma Results

The unaudited pro forma results do not reflect any operating efficiency or potential cost savings that may result from the consolidation of Counsyl with the Company. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations and are not necessarily indicative of results that might have been achieved had the acquisition been consummated as of July 1, 2017.


	Years Ended June 30,
(in millions)	2019		2018
Revenue	$	861.3	$	881.8
Income from operations	17.9		74.3
Net income	13.8		73.0
Net income per share, basic	$	0.19	$	1.01
Net income per share, diluted	$	0.18	$	0.98